Although Fundex Next is a relatively new name for Vietnamese traders, Fundex Next Fund has been delivering profits to thousands of traders worldwide. In this article, let’s explore the Funded Next fund in detail together with COINVN98!
Sign up now: FundexNext.com
Funded Next là gì?
Fundex Next is a trading support fund for forex traders, officially launched in March 2022 after more than 2 years of testing by NEXT Ventures. NEXT Ventures is a digital business group that currently serves over 20,000 clients in more than 100 countries worldwide (with renowned products like FINALYTICS, ECOMCHEF, MONEYBACK FX, FUNDED NEXT, etc.). Funded Next is headquartered at AI Robotics HUB, C1 Building, UAE.
Funded Next promises to provide trading capital of up to $4 million to traders worldwide, with the flexibility to use all types of trading strategies and share up to 90% of the profits.
Details of Funded Next Fund Products
Fundex Next offers two products: the Evaluation Account and the Express Account. Let’s take a closer look at the information about these two account types with Coinvn98.
Evaluation Account:
1. Evaluation Phase
To qualify, you must meet the following criteria in two rounds as follows:
Round 1:
- Maximum daily drawdown: 5%.
- Maximum account drawdown: 10%.
- Minimum trading days: 5 days.
- Profit target: 10%.
- Once you achieve the above criteria after a minimum of 5 days, your account will be eligible for the second round.
- At the end of the first trading cycle, if you haven’t reached the 10% profit target but haven’t violated any trading criteria, and your account is in profit with all positions closed, the fund will provide you with a new FundedNext Challenge account for free (only applicable to the first round).
- If you feel that the time is insufficient to complete round 1, you can request an extension of 14 days for round 1. The condition is a minimum of 5 trading days and a 5% profit.
Vòng 2:
- Maximum daily drawdown: 5%.
- Maximum account drawdown: 10%.
- Minimum trading days: 5 days.
- Profit target: 5%.
If you fail in this round, you will need to pay to register for a new Challenge account.
2. Capital Allocation Phase
After completing the challenge rounds, you will receive a capital allocation account. To maintain this account, you will need to adhere to the following criteria:
- Maximum daily drawdown: 5%.
- Maximum account drawdown: 10%.
Once you have achieved a profit, you can request your first withdrawal. In the first withdrawal, you will receive 80% of the profit and 15% of the profit from the two evaluation rounds (challenges). Additionally, you will also receive a refund of your Challenge account registration fee.
Express Account
With the Express account, you can become a Funded Next trader with just one challenge round. The goal of this model is to achieve a profit target of 25% without a time limit.
The drawdown criteria for this model are similar to the Evaluation model, specifically as follows:
- Maximum daily drawdown: 5%.
- Maximum account drawdown: 10%.
Right from the start, you will receive 15% profit from your account. Once you reach a cumulative profit of 25%, you will be provided with a new account with profit sharing set at 60% after the first withdrawal, 75% after the second withdrawal, and 90% from the third withdrawal onwards.
The Express model offers traders two rule options: Consistency and Non-Consistency. As the names suggest, with an account applying the Consistency rule, Funded Next will have stricter rules for traders, requiring them to meet certain Key Performance Indicators (KPIs). The three KPIs used here are the number of trading days, the number of trades, and the lot size. Each week, Funded Next will calculate the average values of these mentioned KPIs and set maximum (Total x 2) and minimum (Total/2) values. Your task will be to maintain your KPIs within these two boundaries.
For example: Weekly report 1: Number of trading days: 4, number of trades: 70, total lot size: 56.
The average number of trades is 70/4 = 17.5. The average lot size is 56/4 = 14. In week 2, the trader must achieve an average number of trades ranging from (Max = 17.52 = 35 to Min = 17.5/2 = 8.75) and an average lot size ranging from (Max = 142 = 28 to Min = 14/2 = 7).
In case a trader violates the Consistency rule, the Live account will be temporarily suspended and reset to the initial amount.
Note: You need to execute a minimum of 10 trades per month and have at least ten trading days per month.
Funded Next Account Details (Source: Internet)
Funded Next Account Reset Policy
The account reset policy of Funded Next with discounted rates is a significant advantage compared to other funds. However, it’s important to note that you are only allowed to request a reset for Challenge accounts (not applicable to Real accounts).
Below are the corresponding fees for resetting various types of Funded Next accounts:
Evaluation Model:
- Evaluation $15,000 Fund = $89
- Evaluation $25,000 Fund = $179
- Evaluation $50,000 Fund = $269
- Evaluation $100,000 Fund = $494
- Evaluation $200,000 Fund = $899
Express Model:
Consistency Express Accounts:
- Express $15,000 Fund = $79
- Express $25,000 Fund = $159
- Express $50,000 Fund = $239
- Express $100,000 Fund = $439
- Express $200,000 Fund = $799
No Consistency Express Accounts:
- Express $15,000 Fund = $95
- Express $25,000 Fund = $183
- Express $50,000 Fund = $303
- Express $100,000 Fund = $559
Is Funded Next reputable?
Funded Next is rated 4.7 out of 5 on Trustpilot with 2235 out of 2580 reviews being 5-star. EightCap is the broker for Funded Next. Funded Next is a fund from Next Ventures Ltd, a large digital business company with multiple global offices, so it can be said that Funded Next is a reputable fund.
Pros and Cons of Funded Next
Pros
- Affordable registration fees.
- Account reset support with discounted rates.
- High profit sharing of up to 90%.
- Responsive feedback and user support.
Cons
- Poor connection stability with trade servers in Vietnam.
- Relatively high and unstable spreads.
Reviews of Funded Next from Traders in Popular Communities
Here are some reviews from traders, summarized and translated by Coinvn98:
- “If you’re looking for the best prop firm company, choose Funded Next. In my first month with them, I received a payout. I just received another payment. Their service is fantastic.”
- “Funded Next is very professional and legitimate. I’m currently trading with them, and whenever I encounter any issues, my account manager has helped me resolve them.”
- “Fantastic company! I recommend it to everyone; join now. They pay on time, and the support is excellent.”
Đăng kí ngay: FundexNext.com
Frequently Asked Questions
Are there any restrictions on which countries can participate in Funded Next? Fundex Next has restrictions on some countries where they do not provide prop firm trading services or allow prop firm trading. The list of restricted countries is not listed in the terms of service.
Who will be responsible for taxes on the investor’s profits? Investors are responsible for handling their own tax-related matters.
Which trading platform can I use for my trades? Funded Next provides the MT4 trading platform.
Can I trade on my mobile phone? Yes, you can trade on your mobile phone.
What payment methods are available? You can make payments using Cards, Bank Transfers, BTC, ETH, LTC, DOGE, SOL, USDC (ERC20), Perfect Money, and USDT (TRC20), USDT (ERC20).
What is Funded Next’s refund policy? You can request a refund if you haven’t executed any trades within 7 days.
Does Funded Next charge any additional fees? The answer is no; the fund does not charge additional fees.
Conclusion
Despite being relatively new, Funded Next has garnered support from many traders worldwide. We hope that through this review, you have gained the necessary information about Funded Next. If you find this article valuable, please support Coinvn98 by sharing it. We wish you successful trading!
Sign up now: FundexNext.com
